Innodata Inc. (NASDAQ:INOD) Given Average Rating of “Buy” by Analysts

Innodata Inc. (NASDAQ:INOD) has been given an average recommendation of “Buy” by the four analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $35.75.

A number of research analysts have recently commented on INOD shares. Craig Hallum started coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Finally, BWS Financial upped their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Innodata Stock Down 0.5 %

INOD stock opened at $37.57 on Friday. Innodata has a 1-year low of $5.46 and a 1-year high of $55.17. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $31.71 and its two-hundred day simple moving average is $21.70. The stock has a market cap of $1.09 billion, a P/E ratio of 63.68 and a beta of 2.56.

Insider Buying and Selling

In other Innodata news, Director Louise C. Forlenza sold 4,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the transaction, the director now directly owns 8,278 shares in the company, valued at $373,337.80. This represents a 32.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ashok Mishra sold 58,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total value of $2,630,745.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 924,876 shares of company stock valued at $42,040,262. Corporate insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Innodata by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after acquiring an additional 28,173 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after purchasing an additional 13,609 shares during the last quarter. State Street Corp increased its position in shares of Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Deerfield Management Company L.P. Series C increased its position in shares of Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 84,509 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after purchasing an additional 38,954 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.